Press Releases FDIC Makes Public March Enforcement Actions;
No Administrative Hearings Scheduled for May
FOR IMMEDIATE RELEASE PR-48-2004 (4-30-2004)
Media Contact: Frank Gresock (202) 898-6634
The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in March. No administrative hearings are scheduled for May.
The FDIC processed a total of 20 orders in March. These included three cease-and-desist orders, four removal-and-prohibition orders, four civil money penalty orders, two orders terminating insurance, one modification of a cease-and-desist order, five terminations of cease-and-desist orders, and one order terminating and modifying an order to cease and desist.
Copies of the orders referred to above can be obtained from or inspected at the FDIC's Public Information Center, 801 17th Street, N.W., Room 100, Washington, D.C. (telephone (703) 562-2200 or 877-275-3342). The orders will also be made available online within a week of the issuance of this news release. To view the orders online, visit the FDIC's Web page at http://www.fdic.gov/bank/individual/enforcement/index.html. A list of orders made public today follows.
FINAL ORDERS ISSUED PURSUANT TO SECTION 8(b), 12 U.S.C. § 1818(b) (Cease-and-Desist)
Bank of Lake Village, Lake Village, AR; FDIC-04-012b; Issued 3/3/04
United Community Bank, Glasgow, KY; FDIC-04-001b; Issued 3/5/04
The Chinese American Bank, New York, NY; FDIC-03-218b; Issued 3/16/04
FINAL ORDERS ISSUED PURSUANT TO SECTION 8(e), 12 U.S.C. § 1818(e) (Removal and Prohibition Orders)
First State Bank, Parkin, AR; FDIC-02-111e; against Frank G. Wallace; Issued 3/10/04
Farmers & Merchants Bank, Dublin, GA; FDIC-04-008e; against Debra M. Williams;
The Foster Bank, Chicago, IL; FDIC-03-189e; against Jong Koo Kim; Issued 3/10/04
Prairie State Bank and Trust, Mount Zion, IL; FDIC-01-165e; against Sandra L. Johnston;
FINAL ORDERS ISSUED PURSUANT TO SECTION 8(i), 12 U.S.C. § 1818(i) (Civil Money Penalties)
First State Bank, Parkin, AR; FDIC-02-112k; Order to Pay Civil Money Penalty against Frank G. Wallace in the amount of $50,000; Issued 3/10/04
Citizens State Bank, Morland, KS; FDIC-03-209k; Order to Pay Civil Money Penalty against Roger A. Flax in the amount of $7,500; Issued 3/9/04
State Bank of Chanhassen, Chanhassen, MN; FDIC-03-226k; Order to Pay Civil Money Penalty in the amount of $4,000; Issued 3/29/04
The Peoples Bank & Trust Company, Tupelo, MS; FDIC-03-134k; Order to Pay Civil Money Penalty in the amount of $17,900; Issued 3/19/04
FINAL ORDERS ISSUED PURSUANT TO SECTION 8(q), 12 U.S.C. § 1818(q) (Terminations of Insurance)
North Coast Bank, National Association, Santa Rosa, CA; FDIC-04-043q; Issued 3/15/04
North Oakland Community Bank, Rochester Hills, MI; FDIC-04-016q; Issued 3/4/04
MODIFICATION OF ORDER TO CEASE AND DESIST
Cross Country Bank, Wilmington, DE; FDIC-02-035b; Modified Order to Cease and Desist;
Orders Terminating an Order to Cease and Desist
Buffalo Savings Bank, Buffalo, IA; FDIC-01-182b; Issued 3/25/04
PBK Bank, Inc, Stanford, KY; FDIC-01-007b; Issued 3/15/04
North Oakland Community Bank, Rochester Hills, MI; FDIC-03-092b; Issued 3/1/04
First Savings Bank, Norwood, OH; FDIC-03-059b; Issued 3/29/04
The Cowlitz Bank, Longview, WA; FDIC-03-097b; Issued 3/12/04
Order Terminating an Order to Cease and Desist and Modification of Order to Cease and Desist
Heartland Community Bank, Franklin, IN; FDIC-02-026b; Issued 3/29/04
# # #
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 9,182 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars - insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov and may also be obtained through the FDIC's Public Information Center (877-275-3342 or (703) 562-2200).